Cheers to the five DowntownDC BID area projects, and another on the BID’s northern border, which are finalists in the Washington Business Journal’s Best Real Estate Deals awards. The honors recognize the region’s top real estate deals closed in 2012.
The winners are:
• Land Deal – Capitol Crossing, the $1.3 billion, I-395 air rights development project being developed by Property Group Partners (1101 New York Avenue), formerly the Louis Dreyfus Property Group. The seven-acre, mixed-use site is the largest, continuous undeveloped site in Downtown, with 2.2 million square feet (SF). It will be developed over three blocks, ultimately reconnecting Capitol Hill and the East End.
• Urban Office Lease – Cooley LLP (777 6th Street) at the Warner Building (1299 Pennsylvania Avenue). Cooley is taking a portion of the space left vacant by Howrey LLP, the now-defunct law firm. New improvements to the building include lobby upgrades, a fitness center and a new sky terrace.
• Urban Office Lease – Covington & Burling LLP (1201 Pennsylvania Avenue) at CityCenterDC. One of D.C.’s largest law firms will occupy 415,000 SF of office space out of the 514,000 SF planned for the new mixed-use development’s first phase, scheduled for completion in the second half of 2013.
• Urban Office Lease – Arnold & Porter LLP (555 12th Street) at 601 Massachusetts Avenue, the new address that will replace National Public Radio’s former headquarters at 635 Massachusetts Avenue on the BID’s northern border. The law firm is the lead tenant slated to occupy the $350 million, 410,000 SF building, which will have 19,000 SF of retail.
• Urban Office Sale – 733 10th Street, the 10-story, LEED-certified building developed by Skanska USA Commercial Development Inc., was sold to Jamestown Properties for $140 million, or $817 per SF, less than a year after delivery.
• Urban Office Sale – U.S. Mint building (801 9th Street). Wereldhave NV, the Dutch real estate investment company, sold the Class A office building for $147.5 million, or $625 per SF, to NSP Ventures Corp of Japan.
The finalists will be saluted at a special ceremony on Saturday, April 25, at the Washington Hilton.